Tyler and Cameron Winklevoss, twin founders of the New York-based Gemini crypto exchange, say they have donated an additional $21 million to the so-called Digital Freedom Fund PAC, in the form of over 188 bitcoins, according to an announcement on Wednesday. The move is meant to encourage President Donald Trump’s continued support of the crypto industry, particularly as the U.S. electorate begins preparing for what will likely be a contentious midterm election season.
“The mission of the @FreedomFundPAC is to help realize President Trump’s vision of making America the crypto capital of the world,” Tyler Winklevoss wrote on X. “Since inauguration, POTUS and his Administration have been delivering on the promises they made on the campaign trail and then some. We want this unprecedented progress and momentum to continue.”
As part of the announcement, Tyler mentions that he and his brother Cameron will continue to lobby for additional legislative and regulatory shifts pertaining to the crypto industry. The Digital Freedom Fund appears to have been formed on July 11 and does not yet show a full accounting of donors as of press time, according to the Federal Election Commission website.
In particular, the Winklevoss brothers are pushing for “thoughtful Market Structure legislation” and a “Skinny Market Structure Bill” that will prevent dual regulation of crypto assets by both the Securities and Exchange Commission and Commodity Futures Trading Commission.
Such a market structure bill, perhaps like the Clarity Act under consideration, would “cement timeless, permanent ideas into law, limit government overreach, and clear the path for builders to build,” Tyler wrote. “Builders don’t need more paperwork that requires them to hire lawyers, consultants, and lobbyists. They need fundamental protections, fair treatment, and for the government to stop meddling.”
As part of this initiative, the Gemini co-founder also advocates for a Bitcoin & Crypto Bill of Rights” that would codify Americans’ “right to own, self-custody, and transact peer-to-peer” via digital assets. In a similar vein, the Winklevoss brothers also oppose a central bank digital cy because it may become a powerful financial tool wielded by “unelected bureaucrats.”
Additionally, the brothers note that Americans have a right to banking access, regardless of their “political beliefs, religious beliefs, or the lawful business activities” and that software developers should not be held liable for how others use code they publish, maliciously or not, in an oblique reference to Operation Choke Point 2.0 and the recent Tornado Cash trial, respectively.
“We will fight for a level playing field for all. We believe in the power and morality of free markets for everyone and reject any strategy, individual, or group that attempts to engage in behavior that creates unfair regulatory moats, increases barriers to entry for market participants, or puts a thumb on the scale for one company over another,” the Winklevoss twins wrote.
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